PRODUCTS & SERVICES

PERSONAL & FAMILY : coverage descriptions

Yacht Insurance : Kidnap & Ransom Coverage :
Collectibles, Jewelry, Furs, Firearms & Fine Art : Flood : Aviation

Please note that certain conditions and restrictions apply.

Yacht Insurance
A deep understanding of specialized personal insurance such as yacht coverage is what Ware Insurance’s client service is all about. We will work with you to develop the property and liability protection that makes sense for you.

Consider the following. Different circumstances call for different solutions.

Who is operating the vessel?
What is the size of your vessel and what are the on-board contents?
How is depreciation calculated?
What is your regular navigational territory, what and how will your cruising itineraries change?
Are there requirements regarding the lay-up of your yacht?
Would you like towing/medical/pollution coverage?
How often will you have a crew, and what size?
What is your preferred liability exposure, including coverage for crew claims under the Federal Jones Act?
What is your comfort level with respect to deductible options?

In addition to setting you up with satellite-linked medical monitoring equipment, many of our carriers will actually train your yacht crew for emergencies. Call or email Cathy today for more information.

Kidnap and Ransom Coverage
In particular regions of the world, instances of kidnap, ransom and extortion are everyday occurrences, unfortunately. Ware Insurance provides comprehensive specialized kidnap and ransom insurance with limits up to $50 million (US) -- many times considered as an appendage to the homeowner’s policy.

In the case of abductions, kidnap and ransom coverage can pay a myriad of costs, including actual ransoms and extortions, as well as expenses due to financial loss, medical costs, rest and rehabilitation, travel and accommodation, consultant fees, interpreter fees and other reasonable and necessary expenses. Judgment, settlement and defense costs as well as loss of payment are options, as well as death or dismemberment benefits arising from insured events.

Most policies provide a 24-hour emergency response help line, and some policies will even provide immediate access to expert negotiators whose principal goal is your loved one’s release – not apprehension of the perpetrators. In many countries, this may be an essential service.

Cathy is Ware’s expert on specialized personal coverage. Call her today with questions.

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“We’ve been with Ware Insurance for a long, long time. Cathy, Ed and Vada are excellent people – superior in their knowledge on what to do and how to do it. I totally trust their judgment. Ware does it right. They know their business.”

Jeff Hebenstreit
Virginia Beach

Collectibles, Jewelry, Furs, Firearms and Fine Art
It’s all in the details. Protection of your fine art and collectible asset base need not be a cumbersome ordeal. Ware Insurance will help ensure that each piece listed on your policy is covered in the event of fire, theft, earthquake, flood and even breakage. We’ll work with you to determine the best deductible strategy. Many of our carriers tout additional aspects of coverage:

Reimbursement of up to 150% of scheduled value for most items
On-loan pre-purchases. For articles worth up to $1 million, many insurers will protect your ability to take collectibles home on loan before finalizing a purchase.
Extension of jewelry coverage during re-setting, polishing or other professional repairs or restoration, along with in- and out-of-vault coverage.
Availability of immediate coverage for new acquisitions covered at the time of purchase.
Ability to use collectibles as loan guarantees
Tips for optimal conditions for storage of furs, stamps and firearms.

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Flood Insurance
Primary flood insurance is a baseline protection that can be added to a homeowner’s policy in most cases. This is the first step toward adequate protection. (The National Flood Insurance Program is available in specific geographic areas.) Unfortunately, baseline coverage limits ($250,000 for the home structure, $100,000 for inside contents) may not be adequate in the event of major damage. An excess flood policy will extend your coverage seamlessly, after primary flood coverage limits have been exceeded.

Features can include coverage up to the full replacement cost of your home and in all designated flood zones in all states. The following resources are provided for your information and reference.

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Aviation Insurance
No sky-high premiums! Ware Insurance’s years of experience make us your “go to” company for insurance information and coverage. We will work with you to identify the best options for hull and liability insurance for both personal and corporate aircraft including jets, turboprops, helicopters, and for general liability for ground operations.

For any aviation-related risk, Ware can offer you customized coverages for:

Owned aircraft (jets, helicopters and light aircraft)
Non-owned aircraft hull and liability
Excess liability for fractional aircraft ownership
Excess liability for managed aircraft
Airport liability for private air strips
Workers’ compensation for pilots and ground crew
Classic and museum aircraft collections

Call our Residential team today with information on your specific aircraft.

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